Central bankers acknowledged that more fiscal and monetary stimulus may be required.
The slump also led to the biggest ever drop in greenhouse gas emissions.
But the ECB has elected not to reduce interest rates in the face of the outbreak.
The downturn is ramping up pressure on governments to step up to the plate with fiscal stimulus.
Powell’s speech discussed the challenges of monetary policy when economic benchmarks are uncertain.
The Federal Reserve Bank of St. Louis president reiterated his call for cautious interest rate policy.
Tit-for-tat actions on trade aren’t “going to be any good for the whole economy,” an analyst said.
It's time for central banks to take the growing cryptocurrency sector more seriously.